However, any further revision to the yuan exchange rate would depend on the financial environment with reference to the basket of currencies that the yuan has been placed in, the central bank said in its second quarter report.

"The central bank will adjust the exchange rate floating band at the proper time according to market developments and the economic and financial situation," the statement said.

The People's Bank of China pledged to maintain "a normal float" of the exchange rate and reiterated that it would also maintain the currency at a reasonable and balanced level.

It reiterated that over time it would explain to the markets the workings of the currency basket as well as reintroduce currency derivatives forwards and swaps to the interbank market to better provide risk management tools.

China freed the yuan from an 11-year-old peg to the US dollar in favor of a trade-weighted basket of currencies, allowing the yuan to appreciate 2.1 percent, but keeping foreign currency details on the basket murky.

The Chinese yuan closed at 8.1027 to the dollar Thursday, its highest level since the yuan revaluation.

China's new managed float can in theory allow for a 0.3 percent daily shift in either direction to what the market deems fair value.

International currency traders widely expect the yuan to appreciate by a total of 7.4 percent by year-end, pressuring the People's Bank of China to move the currency again or again face the economic pressures associated with speculative funds.